§ 82-92. Tax exemption for historic properties.

(a)

The city commission hereby creates a tax exemption for the restoration, renovation or rehabilitation of qualifying historic properties designated in section 82-95. Qualifying property shall be exempt from that portion of ad valorem taxation levied by the city on 100 percent of the increase in assessed value resulting from any renovation, restoration or rehabilitation of the qualifying property made on or after the effective date of the ordinance from which this article is derived.

(b)

The exemption in subsection (a) of this section does not apply to:

(1)

Taxes levied for payment of bonds;

(2)

Taxes authorized by a vote of the electors pursuant to section 9(b) or section 12, article VII, of the Florida Constitution; or

(3)

Personal property.

(Code 1979, § 15-110)